The Federal Chamber of Automotive Industries (FCAI) has released new car sales data for March. The data shows that a record 109,647 cars were delivered during the month, surpassing the previous March record of 106,988 in 2018. The January-March result of 304,452 sales constitutes the biggest-ever first quarter for new car sales, up 13.2% from
Crikey hates everything to do with Scott Morrison, including JAUKUS. I hated ScoMo as a leader, but I recognise he is the man who led Australia’s great pivot away from China. A mighty legacy. Bernard Keane took a mighty cringe at JAUKUS yesterday: Trump’s return to the White House would represent the greatest opportunity in
The Market Ear on the stalled equity surge. — NVDA Well below the 21 day, but still above the 50 day. Best case, this stock needs to consolidate and catch some breath. Must hold is the 50 day, currently around $810. Refinitiv Et tu NVDA NVDA losing that crazy bid for uspide calls. Note the
The news is good if you like the taste of Fanta: Guinea said shareholders involved in Simandou, the biggest untapped iron-ore reserve globally, have signed $15 billion in financing agreements for the project. …“Simandou is no longer a dream but a reality,” Djiba Diakite, head of the strategic committee which led the talks, said in
Unique among developed economies post-COVID, the Australian economy is coming in for a crushed landing. Unlike the European hard landings or soft landing like the US. Even Canada and NZ are different, with hard landings still possible there. Australia’s crushed landing sees buoyant headline conditions. From the NAB survey yesterday: Crushloaded everything: But smashed wages
YIMBYs, developers and politicians spread the idea that if Australia merely loosened zoning rules and let developers build apartments anywhere, Australia’s housing shortage would be solved. This myth was demolished in a recent Daily Telegraph article, which reported that “Almost one billion worth of housing in one of Sydney’s most affordable local government areas is
DXY eased last night: AUD got squeezy against both majors: Zero aid from North Asia: But some from oil and gold: Goldman’s fancy copper squeeze is going nicely. Beware. Big miners are back! EM stocks look poised: Junk BTFD: As yields peeled back with oil: Stocks await US CPI: Everything awaits US CPI! Tomorrow. From
The iron ore ore short squeeze continued in full roar yesterday but was greeted by selling overnight in Dalian: Coking coal is still mirroring: SGX was less explosive yesterday, but the FE rally did cross over into rebar futures: Scuttlebutt was meh: “Steel margins have improved, which may encourage steelmakers to resume production later, thus
Wall Street was able to just get itself out of a reversal overnight with a late rally by tech stocks in the absence of any economic or macro events as traders await this week’s US CPI print. The USD failed to rally back after its boost from Friday night’s US jobs report with the higher
Following the biggest immigration surge in Australia’s history, which saw a record 549,000 net overseas migrants land in the year to September 2023, The Australian Population Research Institute (Tapri) has released a comprehensive survey showing that Australians comprehensively reject high immigration and a Big Australia. Tapri’s December 2023 national survey of 3000 voters (published April